EXHIBIT 12.1
BEA Systems, Inc.
Ratio of Earnings to Fixed Charges
(in thousands)
Nine Months 31-Oct-03 | Fiscal Years Ended January 31, | ||||||||||||||||||||
| 2003(2) | 2002(2) | 2001 | 2000 | 1999 | |||||||||||||||||
Income (loss) before income taxes | $ | 79,409 | $ | 119,823 | $ | (4,268 | ) | $ | 47,462 | $ | (5,657 | ) | $ | (46,726 | ) | ||||||
Add fixed charges | 35,682 | 54,572 | 50,212 | 35,426 | 29,385 | 16,615 | |||||||||||||||
Earnings (as defined) | $ | 115,091 | $ | 174,395 | $ | 45,944 | $ | 82,888 | $ | 23,728 | $ | (30,111 | ) | ||||||||
Fixed charges: | |||||||||||||||||||||
Interest expense (1) | $ | 23,108 | $ | 33,257 | $ | 30,232 | $ | 22,674 | $ | 12,363 | $ | 10,426 | |||||||||
Portion of rent expense representative of interest | 9,748 | 17,134 | 17,820 | 10,321 | 7,779 | 5,528 | |||||||||||||||
Amortization of debt premium and issuance costs | 2,826 | 4,181 | 2,160 | 2,431 | 9,243 | 661 | |||||||||||||||
Total fixed charges | $ | 35,682 | $ | 54,572 | $ | 50,212 | $ | 35,426 | $ | 29,385 | $ | 16,615 | |||||||||
Ratio of earnings to fixed charges | 3.23 | 3.20 | * | 2.34 | * | * | |||||||||||||||
| * | Earnings (as defined) were insufficient to cover fixed charges by $4,268, $5,657 and $46,726 for the fiscal years ended January 31, 2002, 2000, and 1999, respectively. |
| (1) | Excludes debt conversion premium of $236 and $8,054 in fiscal 2001 and 2000, respectively, which is included in amortization of debt premium and issuance costs. |
| (2) | Revised to include land lease interest as interest expense rather than operating rent |